20th Nov 2024 10:20
(Alliance News) - Hill & Smith PLC on Wednesday said it expected adjusted operating profit to rise comfortably this year amid a good momentum in its Engineered Solutions and Galvanizing Services divisions.
The West Midlands, England-based provider of infrastructure products said in the four months to October 31, revenue was up 7.5% on a constant currency basis and 2% on an organic basis, buoyed by sound demand across a range of US infrastructure markets.
Chief Executive Officer Rutger Helbing said: "The positive trading performance during the period reflects the strong momentum in demand for our products and services, particularly in the US, and the benefits of our focused mergers & acquisitions strategy."
Hill & Smith expects to announce an underlying operating profit for 2024 to be in line with the current analyst consensus of GBP139.1 million, which would be up 14% from GBP122.5 million in 2023. The guidance range is between GBP135.9 million and GBP145.1 million, so between 11% and 18% higher than in 2023.
Hill & Smith shares rose 2.4% to 2,130.00 pence each on Wednesday morning in London.
By Tom Budszus, Alliance News slot editor
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